Expert Appraisal Reviews with Jackson Appraisal Service

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Jackson Appraisal Service provides appraisal review services that are independent, efficient, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "should verify whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the range of the appraisal assignment." The Federal Reserve also notes that "some banks add routine reviews with post-funding assessments of appraisal quality for a number of their high-liability or higher-value affairs as a method to help in detecting valuation problems."

In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Jackson Appraisal Service, we are trained in every form of appraisal review, review practice and the responsibilities of review appraisers.